Foodservice Equipment Reports

Checker’s Acquired By Huddle House Parent

The owner of the 400-unit Huddle House chain is branching out and acquiring Checkers Drive-In Restaurants.

Sentinel Capital Partners, a private equity firm, has inked a deal to purchase Checkers and its stablemate Rally’s from Wellspring Capital Management. The Tampa, Fla., company has about 800 drive-in outlets in more than two dozen states. The deal, announced in mid-January, is expected to close within 60 days. The terms of the stock purchase agreement are confidential.

Wellspring acquired Checkers and Rally’s in 2006 for an estimated $188 million. The firm reportedly has been seeking a buyer for Checkers since last September. In December 2012, Sentinel sold Southern California Pizza, a 224-unit Pizza Hut franchisee based in Corona, Calif., to Sterling Investment Partners. The New York-based firm also has invested in Buffet’s Inc. and Tony Roma’s.

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